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We put forward a brand choice model with unobserved heterogeneity that concerns responsiveness to marketing efforts. We … choice models that account for various forms of heterogeneity for three different datasets, we find better face validity for …
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The authors put forward a sales response model to explain the differences in immediate and dynamic effects of promotional prices and regular prices on sales. The model consists of a vector autoregression rewritten in error-correction format which allows to disentangle the immediate effects from...
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